Siemens Q3 PAT climbs 25% YoY to Rs 531 cr

The heavy electrical equipment maker's net profit jumped 25.23% to Rs 530.60 crore in June 2024 quarter as against Rs 423.70 crore reported in the same period last year.

Total revenue from operations increased 6.97% year on year (YoY) to Rs 4,714.20 crore during the quarter ended 30 June 2024.

Profit before tax stood at Rs 693.50 crore, up 22.93% from Rs 564.10 crore recorded in the corresponding quarter previous fiscal.

On segmental front, revenue from Energy stood at Rs 1,486.5 crore (down 2.08% YoY), revenue from Smart Infrastructure stood at Rs 1,586.4 crore (up 15.34% YoY), revenue from Mobility stood at Rs 565.4 crore (up 8.16% YoY), revenue from Digital Industries stood at Rs 964.4 crore (up 7.71% YoY) and revenue from Portfolio Companies stood at Rs 237 crore (up 2.15% YoY) during the quarter.

New orders jumped 18.09% YoY to Rs 624.5 crore in the quarter ended 30 June 2024.

Sunil Mathur, managing director and chief executive officer, Siemens, said, All our businesses performed well in the quarter with robust growth in revenue and profitability. The strong performance came off a high-quality order backlog that we continue to deliver diligently. While Order Income continues to be strong in our Smart Infrastructure, Mobility and Energy segments, we continue to experience weak Order Intake in the Digital Industries segment. However, we belive that with the with the governments focus on Capex in Infrastructure, demand for our products and solutions will continue to remain strong.

Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. The firm is the flagship listed company of Siemens AG in India.

The counter rose 1.44% to ends at Rs 6,882.85 on Friday, 9 August 2024.

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